HUD awards $530K to Atlantic City to purchase homes for low-income residents

ATLANTIC CITY -- The federal Department of Housing and Urban Redevelopment awarded $530,045 to the city to purchase market-rate homes and sell them to low-income residents, a report in the Press of Atlantic City said.

The HUD program distributes funding to help public housing authorities increase available housing after its stock is diminished, according to the report. HUD granted the Atlantic City housing authority a second round to help replace units torn down in 2005 in preparation for the half-built, 528-unit Hope VI project in the city's 1st and 2nd wards, the report said.